(deleted)

 

how the heck did you get your score to be that low?

 

Did you graduate from college in the past 2 years? Infiniti has a recent grad program which gives you a Tier 1 rate, don't really know how it works but it's worth looking into.

 

550 is REALLY bad.... I say get your credit score up and try again.

 

if you can get a cosigner with a FICO score of above 720 you will be all right
that would put you in the top tier and can get you at lower than 5% APR
i got a 700 and was able to get a 5.05% through costco and capital one
it depends on what state you're in too

 

There are three reasons why your credit score that low. You either have a lot of accounts open (such as CCards) and they are over 50% of your spending limit, you have numerous delinquent accounts on your credit report or you have no credit history. It is possible to fix your credit score in 6 months and that is what I would recommend doing before you get your G.

To fix your 550 FICO score:

-If you have no credit, get some! but do not go crazy and make sure that you do not go over 50% of the credit spending limit.

-If you have accounts that are in good standings make sure that they are under 50% of the credit spending limit.

-If you have any delinquent accounts make sure that you pay them down to 0 balances. They will still remain on your credit report for 7 years but will hold next to no weight.

-Also, remember, that even if you have been late on just 1 payment on any bill/ccard or account, that account becomes delinquent for as long as you hold it (cell phone bills/utilities generally do not count unless you have been really late on a payment).

FYI... hope that helps...

 

ahh yes... welcome to the internet where everyone has a credit score of 800, a supermodel wife, is in perfect health, and waxes their car every day ending with a "y".

if it's because you have no credit or a short history, getting a co-signer and financing a car will do wonders for your score. if it's because of mistakes in the past, you can clean up your score with some of the ideas posted.

realistically, what is the difference in monthly payments with a score of 550 vs. 650+? if it's like $40~50, maybe just buck up and pay it. financing a car and not having any mistakes on payments will do wonders for your score, especially if you're already on track to fix it.

 

I will try one of those on-line landers like E-Loan or Landingtree and see at what interest rate you qualify, thats if you qualifies ...if not, then you at mercy of the dealership , I am sure that dealer have no problem selling a car to you, it depends on how much you are willing to pay, 12~15 percent?